Thousands of affluent people the UK can ill afford to lose are considering
emigrating. What's pushing them away, asks Nicholas Boys Smith.

Reading the news these days, it seems it never rains but it pours in Britain. Economic stagnation, crime, cuts, taxes – little wonder many people, including the wealthy, are considering a life overseas.

In fact, according to our research, 19 per cent of people with over £250,000 in savings and investments, excluding property,are considering leaving Britain in the next two years. This is up from 14 per cent one year ago and 17 per cent six months ago. So, why are more wealthy Britons seemingly keen to leave?

Crime, the weather and the high cost of living are the most frequently cited reasons why wealthy people would move overseas. By comparison, the wealthy list improving infrastructure, cutting regulatory "red tape" and lowering taxes as ways to make the UK more attractive. So, no great surprises, but what has changed? Is it raining more? Has the situation deteriorated that significantly? Well, fear of crime certainly rose following last August’s riots. The cost of living also continues to increase as the economy stutters on.

However, when it comes to such important life decisions as moving abroad, people’s changing views are likely to have deeper roots. A group of people seem to have become frustrated in Britain after four years of a weak economy. This, it would seem, has pushed some wealthy Britons to the tipping point, the point at which they realised they may be happier overseas.

All the while, it’s important to recognise that this is just a group, a minority of 19 per cent who are considering leaving for pastures new. Indeed, a majority of 62 per cent said they are currently happy with the UK as a place to live, compared with 15 per cent who are unhappy.

So, who are these people who are leaving our shores? Interestingly, our research shows that many are younger with large proportions of under 35s and 35-44 year-old wealthy Britons contemplating moving overseas. These are worker bees, not retirees – successful, affluent people that help drive the UK economy. People that the UK can ill afford to lose.

Of course, a decision to emigrate is rarely made purely on "push factors" like fear of crime and anti-social behaviour. Pull factors that draw you to a new country, such as a career opportunity or an attractive way of life, are often decisive and convert people from merely considering a move to taking the plunge. You can see why the Dubai of five years ago was so phenomenonal at attracting expat workers. They had the jobs, they had low taxes and they had a lifestyle that, while not for everyone, was and continues to be attractive to a significant group of people. More people are also taking jobs in Asia.

So, as a growing number of wealthy Britons consider a move overseas, it begs two questions: how many are actually going to leave? And how can Britain win them back again?